Updates In Fungum Fangama

Tuesday, February 8, 2011

Fardeen turns his father's dream into multi-crore Reality

Fardeen Khan has inked a multi-crore property deal with Godrej Properties fin Bengaluru to build villas and apartments on land owned by his father, the late Feroz Khan.

It is learnt that it was the senior Khan's dream to build a residential complex on the plot. His son is bringing that vision of his to life.

Profit-sharers

Says a source, "The residential complex, Godrej Gold County, is situated near F K Farms in Chikkabidurakallu.

It's a joint venture signed by the late actor Feroz Khan and his son Fardeen Khan for the building of gated villas and apartments.

The project involved a 50 per cent profit-sharing ratio and is currently in the pre-development stage. The Khans own thousands of acres of land in Bengaluru including the farmhouse, which is not part of the deal."

My father's project

Apparently, Feroz's farmhouse is built on a few hundred acres of land and it also has stables with horses. Adds a family insider, "The farmhouse was one of Feroz's favourite places in the world and Fardeen respects that.

The farmhouse and adjacent land remains untouched." When quizzed whether he has tied up for a joint venture, for a real estate deal to invest in a residential venture in Bangalore, Fardeen says, "Yes, we are joint venture partners in a real-estate project. It was a dream project of my father's and I am simply continuing what he began."
Fardeen refused to divulge further details but adds, "I will surely send you a brochure as soon as one is ready. At this time, this is all I want to say."

Devgn Developments

Ajay Devgan had also ventured into real estate last year. He is currently developing a residential and commercial complex in Mumbai in partnership with the Roha Group.

Ajay Devgan Infrastructure (ADi), will be developing two projects one residential and other commercial under the brand of ADi in Mumbai. The residential complex ADi West Coast would come up at Versova while the commercial building ADi EGO will be constructed at Vile Parle (East) on the Western Express Highway.

Chacha bhi!

Another joint venture in Bengaluru with the same company is the Sky Star residential project owned by Fardeen's uncle and Feroz's brother actor-director Sanjay Khan and owner of Golden Palm Resort.